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Ad hoc announcement pursuant to Art. 53 LR of the Swiss stock exchange SIX
Bachem raises CHF 583.5 million through capital increase to accelerate the ongoing capacity expansion
- Following the Extraordinary General Meeting on October 15, 2021, Bachem has successfully raised approximately CHF 584 million through a capital increase.
- The new shares are expected to be listed and admitted to trading on the SIX Swiss Exchange on October 20, 2021.
- The capital increase will allow Bachem to finance investments in capacity expansion.
Bachem Holding AG (“Bachem”, SIX:BANB) has successfully raised approximately CHF 584 million through the placement of 750’000 new registered shares (the “New Shares”) at a placement price of CHF 778 per New Share.
The successful share placement is a demonstration of investors’ trust in Bachem and its capability to strengthen its leading position in rapidly growing markets for peptides and oligonucleotides. The capital increase secures Bachem’s financial independence and agility and will among other things accelerate the construction of our so far largest manufacturing facility in Bubendorf, Switzerland, as well as automated manufacturing solutions, equipment and technology across all our sites.
The board of directors is very pleased by the outcome of the capital raise and the strong interest investors have shown in Bachem. We are equally pleased that we have been able to gain new investors in Bachem and warmly welcome them. Together with already established shareholders, including the company’s founder and majority shareholder Peter Grogg, we will continue to shape Bachem’s successful and sustainable development.
The share capital of Bachem will increase from CHF 700’000 to CHF 737’500 through the issuance of 750’000 New Shares each with a par value of CHF 0.05 against cash contributions, making use of the newly authorised capital of up to 1 million shares. The New Shares carry full dividend rights for the fiscal year 2021 beginning on January 1, 2021.
The New Shares are expected to be listed and admitted to trading on SIX Swiss Exchange on October 20, 2021. Payment and settlement is expected to take place on October 21, 2021. Peter Grogg as well as further family members will continue to hold a majority of the share capital in Bachem and entered into to a 180-day lock-up period. Bachem agreed to a 90-day lock-up period after the listing of the New Shares, subject to certain customary exceptions.
Morgan Stanley and UBS are acting as Joint Global Coordinators in the context of the capital increase, and Zürcher Kantonalbank is acting as Joint Bookrunner.
Bachem is a leading, innovation-driven company specializing in the development and manufacture of peptides and oligonucleotides.
With 50 years of experience and expertise Bachem provides products for research, clinical development and commercial application to pharmaceutical and biotechnology companies worldwide and offers a comprehensive range of services.
Bachem operates internationally with headquarters in Switzerland and locations in Europe, the US and Asia. The company is listed on the SIX Swiss Exchange.